Before a property development even begins, significant costs are often incurred. Planning applications, architects’ drawings, engineering reports, environmental surveys and legal advice can all generate substantial expenditure long before construction starts. HMRC has launched a consultation examining whether the current tax treatment of these pre-development costs remains appropriate and whether changes could help encourage investment. […]
Author Archives: Aaron Wilson
Receiving money from a family member can be a welcome source of financial support, but many people are unsure whether they need to pay tax on it. In most cases, the person receiving a gift does not pay Income Tax on money given by family. However, the gift could have Inheritance Tax implications for the […]
1 August 2026 – Due date for Corporation Tax due for the year ended 31 October 2025. 19 August 2026 – PAYE and NIC deductions due for the month ended 5 August 2026. (If you pay electronically, the due date is 22 August 2026.) 19 August 2026 – Filing deadline for the CIS300 monthly return […]
If you are selling shares or other investments, you may incur Capital Gains Tax (CGT) on any profit, or ‘gain’, you make. You will need to work out your gain to determine if you need to pay tax, which depends on whether your total gains exceed your CGT allowance for the tax year. You usually […]
It is important to know if HMRC is holding money that belongs to you. For example, if you have paid too much tax to HMRC, you may be able to claim a tax refund (also known as a tax rebate). Overpayments can happen for a number of reasons, including changes in your employment, paying tax […]
Most people are aware that cash donations to a charity can qualify for tax relief. However, it is less well known that gifts of land, property and qualifying shares can also provide valuable tax advantages. If you donate land, property or shares to a UK charity, or sell them to a charity for less than […]
Many UK businesses now borrow money from overseas lenders or form part of international business groups. Where interest is paid outside the UK, the tax rules can become surprisingly complicated. HMRC has now launched a consultation that could make one aspect of those rules much simpler. Why are the rules so complicated? In some circumstances, […]
Research and Development (R&D) tax relief has helped thousands of innovative UK businesses recover some of the costs of developing new products, improving processes and overcoming technical challenges. However, recent reports suggest that many genuine businesses are no longer making claims because they fear becoming caught up in HMRC’s crackdown on abuse of the scheme. […]
What it could mean for households and small businesses The Government has announced that VAT on domestic electricity bills will be reduced from 5% to 0% from 1 October 2026 as part of its latest package of cost of living measures. The change is intended to reduce household energy costs ahead of the winter months […]
Artificial intelligence is rapidly becoming part of everyday business. From drafting emails and analysing data to producing marketing content and improving customer service, AI offers exciting opportunities for businesses of every size. However, as recent guidance from the accountancy profession makes clear, adopting AI successfully requires more than simply choosing the latest software. Businesses also […]